Heck Capital Advisors LLC Buys Shares of 3,049 Meta Platforms, Inc. (NASDAQ:META)

Heck Capital Advisors LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,049 shares of the social networking company's stock, valued at approximately $1,785,000.

Several other hedge funds have also modified their holdings of META. Fjell Capital LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $334,000. Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in Meta Platforms by 9.8% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,200 shares of the social networking company's stock worth $6,558,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Commons Capital LLC raised its position in shares of Meta Platforms by 2.1% during the 4th quarter. Commons Capital LLC now owns 5,251 shares of the social networking company's stock worth $3,075,000 after acquiring an additional 110 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,628 shares of company stock valued at $48,380,586 over the last quarter. Corporate insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on META. Roth Capital raised their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Piper Sandler raised their target price on Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Oppenheimer raised their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Barclays cut their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $15.26 during mid-day trading on Tuesday, hitting $642.32. 9,473,309 shares of the stock were exchanged, compared to its average volume of 14,474,756. The company has a market cap of $1.62 trillion, a P/E ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24. The stock's fifty day simple moving average is $575.66 and its two-hundred day simple moving average is $609.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $4.71 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.